Check Point Software acquires U.S.-Israeli cyber security tech startup Avanan to expand into cloud-based email protection
Back in December 2018, we wrote about Avanan when the enterprise cyber security startup raised $25 million in Series B funding to transform how businesses secure SaaS email and collaboration. Almost 3 years later, Avanan became a target for acquisition.
Today, cybersecurity giant Check Point Software Technologies announced it has acquired Avanan to expand into cloud-based email protection. Check Point did not disclose the financial details of the acquisition.
In a statement, Dorit Dor, Check Point’s chief product officer said: “More and more businesses are moving to cloud-email platforms and with email becoming a major channel to launch devastating cyber-attacks, this acquisition represents a huge potential.”
Dor added: “By integrating Avanan into Check Point Infinity, organizations will be able to modernize legacy solutions with email security as-a-service and protect cloud email and collaboration suites from the most sophisticated attacks. We’ve been using the Avanan technology as an OEM for the last 3 years and I am confident that with this new addition, customers will enjoy the best email security with the best cyber security capabilities.”
Founded in 2014 by Gil Friedrich, Michael Landewe, and Roy Rotem, the New York-based Avanan’s technology blocks malicious emails before they reach a user’s inbox, Check Point said. Avanan operates a cloud-based platform to provide security solutions for public, SaaS-based applications. Its product is designed for organizations that need to monitor and protect their employees’ use of the cloud. Avanan’s customer base has increased ten times in the last 12 months.
Avanan’s AI also protects cloud email and collaboration suites from cyber attacks that evade default and advanced security tools. Its invisible, multi-layer security enables full-suite protection for cloud collaboration solutions such as Office 365, G-Suite, and Slack. The platform deploys in one click via API to prevent Business EmailCompromise and block phishing, malware, data leakage, account takeover and shadow IT across the enterprise.
The company currently protects over one million end-user accounts in organizations across all industries, from startups to Fortune 100. Avanan currently has more than 5,000 customers and protects more than 2.5 million email accounts.
Before the acquisition, Avanan has raised a total of $41.4M in funding over 3 rounds. Its latest funding was raised on December 17, 2018, from a Series B round, according to Crunchbase. Avanan is funded by 5 investors. Magma Venture Partners and Greenfield Partners are the most recent investors.